The Acorns investing app compiled a survey from 3,000 people on financial matters; from age 18-44. A few of the notable statistics they tallied are included below.
Respondents spent:
- 34% more on coffee than investing ($2,008)
- 44% more on holidays gifts than investing
- 37% more on vacations than investing
Respondents on savings:
- 25% do not save at all
- 60% save less than $99 per month
What a surprise, 31% of respondents don’t think they’ll ever be able to retire.
It is my best advice that you never be average with your money: put more toward savings and investments than the average person who ends up in financial struggle due to a lack of savings and investments.